global luxury sunglasses market

Global Luxury Sunglasses Market is projected to exhibit a CAGR of 5.79 % between 2017 and 2025

Author: QYResearch | Published Date: 2018-08-18| Views: 44

According to the report, global revenue for Luxury Sunglasses market was valued at $ 14.04 billion in 2017, and is expected to generate revenue of $ 22.03 billion by end of 2025, growing at a CAGR of 5.79 % between 2017 and 2025.

Global Luxury Sunglasses Market: Market Driver and Restraint

The increasing preference of the consumers towards luxury products is the major market driver.

The increasing affordability of more and more people. The growing urbanization that has increased the number of dual-earning households and the increasing working women population, also lead to the growth of the Luxury Sunglasses market.

Global Luxury Sunglasses Market: Forecast by Application

This segment includes Men and Women. Owing to their increasing spending capacity, women were the major contributors to the market during 2017. Luxury Sunglasses are considered as luxury items and fashion statement and are available in different varieties for various occasions. The increase in working women population is one of the major factors that will contribute to the growth of the Luxury Sunglasses market in this segment. The women segment was estimated to account for the highest volume share of 56.12 % in 2017.

Global Luxury Sunglasses Market: Forecast by Form

This segment includes CR-39 Luxury Sunglasses, Polycarbonate Luxury Sunglasses, Polyurethane Luxury Sunglasses and Others. On the basis of product type, the CR-39 Luxury Sunglasses type segment is projected to account for the largest volume share during the forecast period; this segment was estimated to account for 35.99 % market share in 2017.

Global Luxury Sunglasses Market: Forecast by Region

In this study, the consumption region of Luxury Sunglasses divided into six geographic regions. Among all regions, North America is estimated to represent the highest share due to the increasing preference of the consumers towards luxury products. The increasing affordability and the presence of large players also drive the market’s growth in this region. Additionally, the growing urbanization that has increased the number of dual-earning households and the increasing working women population, also lead to the growth of the Luxury Sunglasses market.

The market is characterized by the presence of few vendors and is concentrated. The market is competitive and the vendors in the market are competing on the basis of price, quality, brand, and variety. To increase their market shares and improve their market positions, the players in this marketspace are concentrating on introducing innovative products. Of the major players of Luxury Sunglasses, Luxottica Group maintained its first place in the ranking in 2017. Top 3 players include Luxury Sunglasses, Safilo Group and Kering.